New Customer or Con-Artist? Online Account Opening and Risk Mitigation

Duration: 90 Minutes
This webinar is designed to help banks and credit unions get smart about opening online accounts (Covers both new consumer and business accounts). It will evaluate practical risk management strategies, which institutions can use to build a program appropriate for their risk appetite, validation and verification strategies, due diligence. How to support online account development with the appropriate products, social marketing campaigns, and effective risk strategies.
Online Account Opening Risks
Instructor: Rayleen M. Pirnie
Product ID: 506876
Objectives of the Presentation
  • Benefits of Online Accounts for expanding your institution's footprint & profit
  • Risks related to digital accounts, specifically ACH-funded online accounts, e.g., risk-rating new customers or members
  • How common data breaches impact your ability to screen and validate new digital accounts
  • Methods of validation for new online accounts & why common validation techniques fail in this arena
  • Balancing automated and manual verification
  • Proper due diligence and best practices for/critical components of an online account solution
  • Evaluation of risk management strategies based on risk appetite
  • Limiting risk, exposure, and losses
  • Digital account issues related to both new consumer accounts and new business accounts
Why Should you Attend
For a digital account solution to be successful, FIs need to understand how to start new or grow existing online relationships. While online account opening presents growth potential for institutions, it also presents significant risk, particularly when these accounts are funded using ACH. These risks can be controlled with proper due diligence for the online environment, account validation, and enhanced risk controls.

We will discuss the ways in which online account opening presents both growth opportunities and significant risks for FIs. We will delve into the specific risks associated with digital accounts that are ACH-funded. You will discover how these risks can be controlled with proper due diligence for the online environment, account validation, and enhanced risk controls. We will evaluate practical risk management strategies that your Institution can use to build and implement a program that is appropriate for your risk appetite. This session will cover both new consumer accounts and business accounts.

Who will Benefit
  • Customer Service Personnel
  • Operations Officers / Supervisors and Personnel
  • Compliance Officers
  • Risk Management Personnel
  • Treasury Management
  • Product / Service Development
  • Loan Officers
  • Front line / Customer Service personnel
  • Internal Auditors
  • Risk Officers
  • Compliance Professionals
  • CFO / Finance Professionals
  • Operational Risk Managers
  • Trainers
  • Branch managers
$200
Recorded Session for one participant
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How it works
Live Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Rayleen is the founder and owner of RP Payments Risk Consulting Services, LLC. based in Missouri. She is a nationally recognized payments risk and fraud expert who offers specialized consulting services, procedural and risk management reviews, and payments education. Rayleen's specialized skill is delving into the world beyond the payment rules; areas where organizations often find themselves in positions of liability or loss with little to no clear guidance. She is an Accredited ACH Professional (AAP) who has worked with all payment systems for nearly 20 years, and a Certified Enterprise Risk Professional (CERP). Rayleen also holds a Bachelor of Science in Criminal Justice Administration.

Her favorite pastimes include gardening with her grandson and reading. She is very active with children's advocacy services in the state of MO and has 4 rescued dogs.
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